Porch Group, Inc. · NASDAQ:PRCH

Porch — Merger or Acquisition (September 2021)

27 slides from Porch's merger presentation, Sep 9, 2021

Slide 1: M&A and Investor Update Presentation
Copyright 2021 Porch.com. All rights reserved 1 M&A and Investor Update Presentation September 9, 2021 Love your home. For moving and improving and everything in between.
Slide 2: Presenters
Copyright 2021 Porch.com. All rights reserved Presenters Matt Ehrlichman CEO & Founder, Porch Group Marty Heimbigner CFO, Porch Group Marcus Linden CEO, CSE Insurance Malcolm Conner VP and Group GM, Porch’s Home Services Division Adam Kornick President, Porch’s InsurTech Division
Slide 3: Disclaimers
Copyright 2021 Porch.com. All rights reserved 3 DISCLAIMERS 3 Forward - Looking Statements Certain statements in this presentation may be considered “forward - looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995
Slide 5: Announcing acquisitions to more fully protect one's home
Copyright 2021 Porch.com. All rights reserved 5 Announcing 2 acquisitions to more fully protect one’s home InsurTech Expansion Home warranty launch Company Overview • Founded in 1949 • California domiciled personal lines insurer focused on property and auto • 123 employees located in Walnut Creek an
Slide 6: Porch, the Vertical Software Platform for the Home
Copyright 2021 Porch.com. All rights reserved 6 Porch, the Vertical Software Platform for the Home Insurance (Carrier, Agency & Warranty) Vertical Software (SaaS + Transaction)
Slide 7: Key Focus Areas for 2021
Copyright 2021 Porch.com. All rights reserved 6 Key Focus Areas for 2021 1. Grow SaaS revenue as we i ncrease the number of companies using our vertical software 2. Increase access to consumers from software companies 3. Increase B2B2C transaction revenue per consumer 4. Continue to scale our Insura
Slide 8: Leading software provider across key home verticals
Copyright 2021 Porch.com. All rights reserved Leading software provider across key home verticals 8 (1) Based on Porch management estimates of relative market share #1 Inspector ERP / CRM (1) #1 Moving Labor + Full Service (1) #1 transaction management software for title companies (1)
Slide 9: Porch has early access to high-intent homebuyers
Copyright 2021 Porch.com. All rights reserved Porch has early access to high - intent homebuyers 9 Receives inspection Title file opened Engages with Porch Concierge Purchases home insurance/warranty Books movers Sets up utilities and cable Ongoing home projects Porch knows homebuyers are moving 6+
Slide 10: Porch has unique property data to better price risk
Copyright 2021 Porch.com. All rights reserved Porch has unique property data to better price risk 10 • Make, model and serial number of appliances • Water risks (water system location, pipe type, sump pump, etc.) • Roof type, quality, and issues • Interior issues (drywall, electrical, etc.) • Exteri
Slide 12: Porch has a successful and repeatable M&A strategy
Copyright 2021 Porch.com. All rights reserved 12 Porch has a successful and repeatable M&A strategy Proven ability to significantly accelerate revenue of an acquired company when part of Porch 2021 sets the stage for strong future growth Strong M&A pipeline to fuel continued M&A Large opportunity se
Slide 14: CSE accelerates Porch's insurance expansion
Copyright 2021 Porch.com. All rights reserved CSE accelerates Porch’s insurance expansion Grows Porch’s Insurance Geographic Footprint x CSE currently writes business in CA, AZ, NV & Utah x Additional licenses in WA, CO, ID, OR, VA & DC x Strong presence in CA, the largest U.S. homeowners’ market x
Slide 15: CSE will help Porch scale its InsurTech business
Copyright 2021 Porch.com. All rights reserved CSE will help Porch scale its InsurTech business x $25M expected annualized revenue after intended transition to capital - light model (from ~$130M GWP) All recurring and predictable revenue x CSE to migrate into Porch’s capital light insurance model wit
Slide 16: Porch Operates as a Capital Light InsurTech Business
Copyright 2021 Porch.com. All rights reserved Porch Operates as a Capital Light InsurTech Business 16 Source: SNL Financial; Porch includes HOAIC; Indices represent median of SNL Group of following companies: National: Allstate , A uto Owners, Cincinnati, Farmers, Liberty Mutual, Main Street America
Slide 18: Porch expands into warranty through AHP
Copyright 2021 Porch.com. All rights reserved 18 Porch expands into warranty through AHP AHP is Set To Scale as Part of Porch x Provider of home warranty products in 45 states x In process of obtaining licenses in four additional states, with continued expansion nationally x Experienced marketing, s
Slide 19: AHP + Porch Well-Positioned to Compete in Warranty
Copyright 2021 Porch.com. All rights reserved AHP + Porch Well - Positioned to Compete in Warranty x $12M (1) TTM recurring warranty revenue AHP’s three - year warranty product allows for predictable, recurring revenue and strong cashflow. x Leveraging Porch services strengthens value proposition to
Slide 20: Porch protects homeowners with insurance & warranty
Copyright 2021 Porch.com. All rights reserved Porch protects homeowners with insurance & warranty Homeowners insurance & umbrella Service line warranty Auto insurance Appliance warranty 20 Warranty Insurance
Slide 21: Porch can accelerate growth of CSE and AHP rapidly
Copyright 2021 Porch.com. All rights reserved Porch can accelerate growth of CSE and AHP rapidly 21 Porch handyman services strengthen the protection product value proposition Porch ecosystem drives low - CAC demand Unique property data allows for innovating products and effective pricing Insurance
Slide 22: CSE & AHP Deal Summaries
Copyright 2021 Porch.com. All rights reserved CSE & AHP Deal Summaries CSE Deal Summary • $48.6M of cash at closing • Definitive Agreements signed: Sep 2, 2021 • Expected close: Q2 2022, pending California Department of Insurance regulatory approval • 1.9x Revenue Multiple (1) and 0.6x multiple of 1
Slide 24: Raising FY 2021E Revenue and Reiterating Margin Guidance
Copyright 2021 Porch.com. All rights reserved 24 Raising FY 2021E Revenue and Reiterating Margin Guidance $184M ~72% ~40% - 13% to - 16% Previous 2021E Guidance ~$187.5M (159% YOY Growth) ~72% ~40% - 14% to - 16% Current 2021E Guidance Guidance ▲ No Change Adjusting for M&A Disclaimer: Porch is not
Slide 25: Porch Group Investment Highlights
Copyright 2021 Porch.com. All rights reserved 1. Vertical software leader to key home service companies with low churn and high NPS 2. Large and ideal consumer audience provided via software companies, with low acquisition costs 3. Unique, substantial, and valuable property data 4. Large insurance o
Slide 27: Massive TAM Of ~$325B Continues to Expand
Copyright 2021 Porch.com. All rights reserved 27 With the addition of Warranty the U.S. Total Addressable Market grows from ~$320B to ~$325B Massive TAM Of ~$325B Continues to Expand (1) Moving Services: Comprised of Security, Moving, and TV / Internet installs. Security TAM of $1.3B estimated based

Porch Group — Merger or Acquisition (September 2021) on 6ix

Porch — Merger or Acquisition (September 2021)

Slide 1: M&A and Investor Update Presentation

Slide 2: Presenters

Slide 3: Disclaimers

Slide 4: Business Update

Slide 5: Announcing acquisitions to more fully protect one's home

Slide 6: Porch, the Vertical Software Platform for the Home

Slide 7: Key Focus Areas for 2021

Slide 8: Leading software provider across key home verticals

Slide 9: Porch has early access to high-intent homebuyers

Slide 10: Porch has unique property data to better price risk

Slide 11: M&A Announcement

Slide 12: Porch has a successful and repeatable M&A strategy

Slide 13: Copyright 2021 Porch.com. All rights reserved 13

Slide 14: CSE accelerates Porch's insurance expansion

Slide 15: CSE will help Porch scale its InsurTech business

Slide 16: Porch Operates as a Capital Light InsurTech Business

Slide 17: Copyright 2021 Porch.com. All rights reserved 17

Slide 18: Porch expands into warranty through AHP

Slide 19: AHP + Porch Well-Positioned to Compete in Warranty

Slide 20: Porch protects homeowners with insurance & warranty

Slide 21: Porch can accelerate growth of CSE and AHP rapidly

Slide 22: CSE & AHP Deal Summaries

Slide 23: Updated 2021 Outlook

Slide 24: Raising FY 2021E Revenue and Reiterating Margin Guidance

Slide 25: Porch Group Investment Highlights

Slide 26: Thank you

Slide 27: Massive TAM Of ~$325B Continues to Expand